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Market & Nifty Fifty Analysis - 30.06.2022 (Monthly Expiry)

30th June 2022 is an important date because it is half year end. Also it is a quarter end and most important today is expiry of monthly series of derivatives.

Monthly series expiry are mostly volatile and today also same is expected. 

 

Despite of gap down opening on 28.06.22 market has recovered sharply. Index has respected important support of 15700-15730 and closed around 15783. 

 

Broader range as per OI data is 15500-16000.

However important support remains same as yesterday. (mentioned below) 

 

Important factors to be considered: 

1st: Monthly expiry. Market may become surprisingly volatile. So stop loss to be placed in systems 

2nd: Rupee again all time weak against US Dollar 

3rd: Crudeoil prices cooled by 3$. Not very positive but not very negative factor

4th: FII's long position in index at lowest levels

 

Trading Zone Analysis

US markets followed by asian market are flat. Thus Indian market may open flat but get trendy and overall range bound. 

Support1: 15575-15600

Support2: 15500 

Demand zone: 15400-15200 (One can look to go long from here with small stop loss)

Resistance1: 15900-15925

Resistance2: 16000

 

More updates & discussion in WhatsApp group.

 

Disclaimer: Above view is personal and shared for education and discussion purpose. I'm not sebi registered analyst. 

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